Tullow facilitates crude oil supply to local refinery

Ghana is set to strengthen its domestic refining capabilities through a new collaboration between the Ministry of Energy and Green Transition and Tullow Ghana. This partnership will facilitate the supply of Ghanaian crude oil from the Jubilee Field to the Sentuo Oil Refinery for local processing into refined petroleum products.

The initiative is a significant step towards enhancing Ghana's energy security and fostering industrial development. By processing crude oil domestically, the country aims to reduce its dependence on imported refined products, which are often subject to global market volatility and geopolitical uncertainties.

“

This achievement demonstrates the power of collaboration and what can be accomplished when government and industry work together in pursuit of a common national objective.

The arrangement leverages Tullow's existing commercial relationship with Glencore, the exclusive marketer of Tullow's crude oil entitlement. Crude oil liftings were made available to Sentuo's terminal via the Suezmax Mare Siculum vessel, supporting refinery operations and strengthening the security of supply.

“

Beyond the immediate commercial benefits, this initiative has significant strategic implications for Ghana. A stronger domestic refining industry enhances fuel supply reliability, reduces exposure to international supply shocks, improves foreign exchange retention and creates employment opportunities across the petroleum value chain.

Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, hailed the collaboration as a demonstration of effective partnership between government and industry. He highlighted the strategic implications, including improved fuel supply reliability, reduced exposure to international supply shocks, better foreign exchange retention, and job creation across the petroleum value chain.

Jean-Medard Madama, Managing Director of Tullow Ghana, emphasized the company's commitment to supporting Ghana's energy sector beyond upstream production. He stated that facilitating access to locally produced crude for domestic refining strengthens the entire petroleum value chain, contributing to energy security, industrial growth, and long-term value creation for the nation.

“

This initiative reflects our commitment to supporting the development of Ghana’s energy sector beyond upstream production. Facilitating access to locally produced crude for domestic refining helps strengthen the links across the petroleum value chain while contributing to energy security, industrial growth and long-term value creation for the country.